To change the depreciation method and life of the

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Unformatted text preview: ts that were
reclassified, close the report window (X).
Choose File, Close Form from the Applications Menu
Navigate: Assets &gt; Asset Workbench Book: XXX CORP 08.10 Run Asset Retirements Report
- FA-12 1.00 Review the Mass Reclassification Report
to make sure that the transactions
completed successfully. Click the OK button
Click the Submit button 08.09 Verify Successful run of Calculate Gains and Losses
- Calculate Asset Depreciation
(FM0480): Automatic Depreciation
Rollback 1.00 - Choose View, Requests from the application menu
Click the Find button
Highlight the Mass Reclassification Review Report
Request
Click the View Output button to review the report. Input the Corporate Book name, the current period will
default. - FA-11 1.00
- - The system submits a concurrent process
to perform the reclassification. Run the ‘Calculate Gains and Losses’ program. Calculate Asset Depreciation
(FM0480) 1.00
- Review the Mass Reclassification Preview
Report for reasonableness and accuracy. After reviewing and confirming the assets to be
reclassified, close the report window (X).
Choose File, Close Form from the Applications Menu
T o perform the Mass Reclassification: - FA-10 1.00
- - Book: XXX CORP
Comments: Reclassification of a Group of
Assets
Asset Number: MRET ASSET 2
New Category: COMPUTER
Mass Reclassifications form is displayed.
SOFTWARE.WEBSITE
Mass Reclassification can be used to
reclassify one or multiple assets.
The Mass Reclassification functionality
allows users to Reclassify Asset(s). The
user may specify that the reclassified
asset inherit the depreciation rules from
the new asset category. This is not
Inherit Depreciation Rules of New
available in the manual reclassification
Category: Checked
function.
Review the Mass Reclassification Preview
Report for accuracy and reasonableness. Click the OK button to confirm. Estimate Future Depreciation
Expense (FM1904) 1.00 - Query will display Asset from step 04.01
above with the new category info.
Mass Reclassifications form is displayed Enter the partial Current Cost to retire in the Cost Retired
field. Tab to the next field.
Units Retired: 0
Choose Retirement Type, Proceeds of Sale, and Cost of
Removal.
Cost Retired: 500
Retirement T ype: Sale
Proceeds of Sale: 600
Cost of Removal: 50
Click the Done button to execute the Retirement. - FA-9 1.00
1.00
- The asset will reflect the new category
combination. Query the Mass Transaction Number from step 13.06 on
the Mass Reclassification form.
Enter Query [F11]
Enter the Mass T ransaction Number
Execute Query [Ctrl+F11]
Click the Run button
Click OK button to confirm run mass transaction?
Click OK button to note to confirm request IDs.
Click OK button to note. - FA-8 1.00
1.00 - - Adjust Asset Financial Information 1.00
- The system will only allow users to change
the category to an existing category
combination.
NOTE: Individual Asset reclassification
does not change how the asset is
depreciated, but only how it is recorded in
the FA sub-ledger and the General Ledger
with respect t...
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